The Top 3 Things Dublin Ranch Homeowners Should Know This Summer.
A common question in real estate is, “when is the best time to sell my home?” If you’ve ever asked this, there’s a good chance you’ve gotten a variety of answers. For example, some experts suggest that spring is the best season to put your house on the market, since families will want to move during the summer (when school is out of session). Others believe that the winter months are better because there are fewer houses on the market, which should mean less competition. With all the conflicting advice, it can be difficult to figure out the “when” that works best for you.
But you don’t have to rely on general advice when making the decision to sell your home. There’s a wealth of data that helps forecast the market better than any rule of thumb. And owners of Dublin Ranch homes certainly have something to be happy about, because the latest data indicates that the local housing market is gaining momentum and gearing up for a strong summer.
With that in mind, here are the three most important reasons why you should consider selling your home this summer:
#1: Home prices are up. As of April 2014, the median price for a single family house has risen 30% above the average value this same time last year. To put it in dollars-and-cents, the median house has seen its value increase by over $200,000! That positive growth isn’t limited to houses, either. When compared to April 2013, property values for Dublin condos and townhouses have risen by a similarly respectable average of 14%. It goes without saying that higher property values are a good thing for prospective sellers.
#2: Inventory is down. “Months’ Supply of Inventories” (or simply “MSI”) for Dublin Ranch homes are lower than they’ve been in a year, and are steadily dropping. It’s important to know what this means: Essentially, the MSI measures how long it would take for all homes currently on the market (the “inventory”) to be sold if no other houses were added. The higher the number, the more saturated the market is…and the slower it will move. In slow markets, sellers have to lower their prices to actually sell anything. That’s why a low MSI is a good thing for homeowners: It means you can get a higher price when you sell.
#3: Homes are spending less time on the market. At its peak in January, the average house sat on the market for 43 days; in March, it was 32 days. But as of April 2014, the typical Dublin Ranch home was on the market for only 20 days. The less time a house spends on the market, the more likely you are to get a fair price for your home.
As the market heats up for the summer in Dublin Ranch, we expect to see an increase in competition. It’s important that you choose carefully when hiring a company who can best represent your interests and maximize your equity. Check back here often for the latest in Dublin Ranch news, and let us know if you’d like a free analysis to determine the value of your home.